Since its establishment in 1979 in Taiwan, FFG has insisted on the philosophy of “Sincerity and responsibility for permanent operations”. Employees at FFG are all focused on innovation, marketing, service, reasonable management, and continuous improvement with selfless & fearless spirits. Gradually, FFG is becoming a global conglomerate with diversified products.
In recent years, FFG set up close to 95 production and operation bases in Taiwan, The United States, Japan, India, and Europe. FFG's diversified product lines are divided into machine tools, electronic equipment, industrial equipment, and green energy. Our products include CNC machine tools, electric tools and equipment, forklifts, construction machinery, elevator equipment, parking equipment, pneumatic tools, printed circuit boards, LCD TVs, LCD displays, LED lighting, solar electric conductive adhesives, magnesium alloy processing and other products.
The CNC machine tool division alone currently has 50 operation bases, 37 brands, and accounts for more than 40% of FFG's total revenue. FFG has become a manufacturing conglomerate with the most complete product line of CNC machine tools in the Greater China region. In 2009, FFG's CNC machine tool sales surpassed Germany, Japan and other manufacturers, becoming the number 1 CNC machine tool manufacturer in the world.
Laying the foundation in Xiaoshan
With China's rapid economic growth and FFG's globalization strategy, FFG set up its first sole proprietorship enterprise in China: Hangzhou Good Friend Precision Machinery Co., Ltd. This operation, established in Xiaoshan, Hangzhou in 1993, is mainly engaged in the manufacturing of CNC machine tools, parking garage systems, and forklifts.
Since its establishment, Good Friend has developed steadily to become the biggest foreign owned CNC machine tool manufacturer in China as well as a national high-tech benchmark enterprise. Good Friend is one of the top ten economic contributing enterprises in Xiaoshan.
With the continuous improvement of Good Friend's management, technology, quality, marketing, service and support structure, FFG's China business group, Good Friend Int'l Holdings Inc. (mainly Good Friend), became the first listed company on The Stock Exchange of Hong Kong in 2006 (Stock Code: 2398). Good Friend entered the global stage when it became the first Chinese company to be listed in Hong Kong that operates in CNC machine tools, parking garage systems, and forklifts.
The development of Good Friend's CNC Machine Tool Division received major support and recognition from all levels of government in China. FFG utilizes this as an opportunity and motivation to accelerate expansion and, at the same time, expand China's business territory and implement regional group strategies.
From Jiangdong to the World
In 2006, the Zhejiang CNC Equipment Industry Base was established in the Xiaoshan Jiangdong Industrial Area. While developing the CNC machine tool bases in Xiaoshan and Xiasha, FFG also actively planned construction of the FFG Science and Technology Industrial Park in Jiang Dong. FFG collaborates with the well-known CNC precision machinery manufacturers and suppliers from Taiwan, Japan, Europe and America to invest, set up factories, and form a CNC equipment industry supply chain and satellite cooperation system. FFG's Science and Technology Industrial Park in Jiangdong will become an operations and R&D center, a CNC machine tool manufacturing center in China, and eventually a global CNC machine tool manufacturing center.
At present, Hangzhou Glory Friend Precision Machinery Technology Co., Ltd. in the Industrial Park (Jiangdong) is under construction. The Hangzhou Feeler-Takamaz Machinery Co., Ltd. (a joint-venture with Takamaz and Toyota Tsusho) and another precision screw compressor project (a joint-venture with IWATA Japan) are currently applying for land use permits and will begin construction shortly.
FFG Corporate Social Responsibility
- Contribution to society
"Taking from society and feeding back to society" is the core spirit of FFG’s corporate social responsibility. In addition to providing quality products, services, and pursuing a better quality of life for people around the world, FFG also actively participates in a variety of social welfare activities and personnel training programs in hopes of improving the quality of life for less-fortunate groups, as well as nurturing talents through shared corporate expertise. Overall, FFG wishes to contribute to social harmony and fulfill corporate social responsibility.
- Fair Friend Institute of Electromechanics
In 2005, Good Friend started construction on the FFG Science and Technology Industrial Park in Xiasha. This project is underway with hopes of transferring past development experience from the Taiwanese machine tool industry to China. The total investment for the enterprises of Hangzhou Global Friend Precision Machinery Co., Ltd. and Hangzhou Ever Friend Precision Machinery Co., Ltd. totaled over 135 million US dollars. These three enterprises have begun production of horizontal machining centers and forklifts in order to provide reliable equipment and support for customers' industrial upgrade and enterprise transformations. The centers are built and manufactured in accordance with China's current economic policy.
While in pursuit of reasonable economic benefits, FFG has always remembered to perform and fulfill its corporate social responsibility. In this way, FFG recently cooperated with Hangzhou Vocational & Technical College to establish Fair Friend Institute of Electromechanics. This institute cultivates excellent CNC professionals with theoretical knowledge and practical skills to meet the needs of FFG's workforce. More importantly, this college provides strong, talented human resources for machine tool and other related industries while solving student unemployment problems. Ultimately, FFG seeks to achieve win-win situations for businesses, schools, students and societies.
- My one acre of farmland (My Paddy Field)
In November 2009, FFG participated in a Taiwanese social welfare event called "My One Acre of Farmland". In Taiwan, the government has limited power to take care of farmers, but enterprise still has the power to help them. FFG assists rice farmers in opening up markets and increasing profits. This also allows FFG to set up a bridge for enterprises to adopt farmland directly, and in turn enterprises can enjoy high quality rice in Taiwan.
- Disaster donations
In August 2009, Typhoon Morac hit southern Taiwan, destroying hundreds of houses and causing serious casualties. The entire staff of FFG donated a total of NTD 980,000 (USD 33,000), and entrusted the donations to The Red Cross, who helped residents. In May 2008, the Sichuan earthquake caused thousands of deaths and left many people homeless. In order to help damaged regions rebuild, the staff of FFG donated a total of NTD 5,760,000 (USD 189,000). At the same time, FFG sent personnel over to visit local colleagues and provided medical and financial assistance which left the residents with a feeling of loving, sincere care from Taiwan.
- Corporate Governance
“Maintain good company governance and comply with business ethics” is one of FFG's important core commitments to social responsibility, as well as a basic principle that should be the goal of any responsible enterprise. FFG implements this belief into daily operations through complete planning and employee education
- Corporate Structure
FFG believes that the high-quality corporate governance is the guarantee for companies operating in optimum condition and the best way to balance all the interest for all parties. The Board currently has 5 Directors and one supervisor present,for a term of three years. The chairman of the board does not hold a position in the company's administrative duties. In order to enhance the responsibility and credibility of the Board of Directors,the board would hold the meeting every quarter. Corporate governance emphasizes the transparency of operation in order to be responsible for employees and shareholders. We will continue to strengthen the organization and function of the board of directors to ensure our corporate governance to be better,and to meet all the needs of all parties.
- Ethics Standard
Since its establishment in Taiwan in 1979, FFG has insisted on the philosophy of being “Earnest and responsible for permanent operations”, as well as the company culture of “Diligence and frugality in the pursuit of excellence”. All of our staff is committed to comply with legal and ethical principles in order to maintain our assets, interests and image. These ideals enable the company to hold sustained operations, expand development, and to fulfill responsibilities to shareholders, governments and societies.
- Pursuit of Balancing Interests Among Parties
Fair Friend insists on the spirit of mutual benefit and common prosperity among shareholders, manufacturers, customers, and employees. As a corporate citizen, Fair Friend considers balancing interests among relevant parties at all times.
- Employee Policy and Communication Channels
Fair Friend hopes to make our staff feel at home while they are at work. We achieve this by emphasizing innovation and nurturing talent to constantly improve the value of employees and consumer services. At FFG, employees are our most important asset, which is reflected in the group’s benefits system and policies.
- Our competitive salaries are based on the industry environment, market, personal potential and performance, with hopes that our generous offerings attract and motivate new, talented personnel. Regarding employee performance evaluations, we use an HR assessment system. In addition, the “Labor Contract Law”, which has been enforced in China since 2011, makes sure local employees' payment, insurance and welfare are all in accordance with the requirements of the national labor contract law principles. Moreover, because mainland China made adjustments in industrial policies and human resource structures in 2009, FFG changed the salary structure and benefit policy according to local regulations and market standards. Fair Friend cooperated with Hangzhou Vocational & Technical College to establish Fair Friend Institute of Electromechanics which processes high-level personnel training. This program ensures a stable manpower supply and enhances the group's future competitiveness. In addition to the basic employee benefits policy, we are always focused on employees' opinions, and regard them as an important reference for the company's continuous improvement.
- Employee training
FFG regards employees as our most important asset, so we value personnel training and development. We provide relevant training courses to meet the various needs of staff from different regions, strengthen individual skills and core competencies, and cultivate successors to achieve the goal of sustained operations.
Occupation safety and health
Providing a safe and healthy working environment is Fair Friend's most basic obligation as a corporate citizen. We implement occupational safety and health management at each production plant, and have obtained the certification of ISO 14001. Every production plant has a safety and health specialist who is responsible for planning, executing, and auditing health and safety management. This specialist conducts ongoing audits to ensure the highest safety and health regulations are maintained. Each production plant participates in safety and health training in order to improve employees’ safety and health knowledge. If an accident does occur, our safety and health specialist analyzes the causes and improves staff safety education to prevent similar incidents from happening in the future. In order to promote employee health and early detection of problems, employees receive annual physical examinations in accordance with regulations. We strive to promote health knowledge, and encourage employees to use leisure time to exercise and stay healthy.
Fair Friend Gives Priority to Shareholder Interests
During the early days of Fair Friend's business, we raised funds from shareholders to enable our growth. Subsequently, Fair Friend achieved growth and expansion by its own operating profit funds, and then distributed the profits to shareholders every year. During the economic crisis in 2009, other companies' performance in the same industry declined significantly. Thanks to the efforts of our team, machine tool development in mainland China still achieved growth during the recession. Although the overall economic situation is still uncertain, FFG's management team will continue to go forward with the goal of creating maximum profits for shareholders.
Fair Friend Fully Respects Customers
Fair Friend respects customers completely and emphasizes that customer service is the beginning of building long-term relationships with customers. Fair Friend intensively studies customers’ needs and constantly seeks improvements which lay the foundation for better technical research & development, system programming and fostering projects. Fair Friend also assists distribution partners to enhance operational strength and establish long-standing, stable business foundations. We provide customers with immediate and efficient support so that they become enduring, strategic partners with Fair Friend.
Persistence on Quality and Innovation
As a result of our insistence on quality and R&D innovation, Fair Friend’s Machine Tool Division was given the Taiwan Ministry of Economic Affair’s Product Image Award for three consecutive years (1994-1996), and again in 1999. In 1994, FFG received the award of the Best Quality and Service of Tool Manufactory in Asia by World Manufacturing Engineering & Market and Metalworking Equipment News. In 1996, FFG was the only machine tool manufacturer that obtained the Industry Technology Development Award by the Ministry of Economic Affairs. In 2008, Fair Friend’s Machine Tool Division received the AI Excellence Product Award, which has also been awarded to well-known enterprise leaders such as MAZAK (Japan; the world's largest) , DMG (Germany; the world's second largest), MAG (U.S.A; the world's fourth largest), MORISEIKI (Japan; the world's sixth largest), MAKINO (Japan; the world's seventh largest) and AgieCharmilles (Switzerland; the world's ninth largest). Moreover, Fair Friend ranked number 7 among the top 100 excellent suppliers, making us the only Taiwanese or mainland China machine tool manufacturer in the world rankings. FFG has proudly become the largest machine tool group in the world, including the greater China region (Taiwan, China, Hong Kong, Singapore, and all of Southeast Asia).
Partnerships with Suppliers
FFG strives to maintain fair, mutually beneficial relationships with our suppliers. The primary conditions Fair Friend considers when selecting suppliers is integrity and honesty. Employees are prohibited from colluding with suppliers' or subcontractors' interests, or obtaining improper personal benefits. At FFG we believe that long-lasting partnerships are built with integrity and a win-win mindset. Competitive quality, technology, delivery and price are necessary conditions required of our suppliers, so we constantly ask suppliers to grow together with us through supplier quality systems and provide customers the best quality products.
- Environmental protection
The basic business missions for the modern, responsible corporation are “Protect the environment, save energy, love the Earth", and FFG is no exception. We are committed to implementing environmental research and developing environmentally friendly, energy-saving products which reduce our impact on, and protect, Earth’s environment. We seek to make the most efficient use of energy during daily life, so reducing the emissions of greenhouse gases is always on our mind. Our offices use inductive lighting power to reduce unnecessary waste and our washrooms utilize water saving components to reduce unnecessary consumption of water. In mainland China, the “Eleventh Five-Year Plan” and the “Twelfth Five-Year Plan” have very specific requirements for energy saving. In accordance with these energy related laws and regulations, energy saving is a key point for energy management in industries.
- Vision on Social Responsibility
Fair Friend upholds mutually beneficial, win-win partnerships with shareholders, customers, vendors and employees. We maintain social responsibility by focusing on our core value of “Taking from society and feeding back to society”. In this way, Fair Friend realizes the importance and necessity of fulfilling corporate social responsibility. It is clear that by propagating this responsibility within the corporation, we are able to innovate our corporate brand image, create new value, and reach our goal of sustained operations.
Looking toward the future, FFG seeks to establish win-win partnership with shareholders, customers, vendors and employees by reviewing feedback from relevant internal and external stakeholders. In this way, we maintain sustained operations and fulfill our vision of corporate social responsibility. Everyone at FFG works together to achieve the goal of becoming a good corporate citizen.